Post
Topic
Board Speculation
Re: Road to 100k?
by
Odohu
on 08/08/2024, 15:47:56 UTC
Though I may not be this thread is not about trading but we can not deny the fact that some people do trade. And they may go extra mile to take loan and invest in bitcoin but I don't think if such loan can be used for a longer time investment rather a short time investment. For  example during the earliest part of the week when bitcoin was dip by % -20, a short term trader that took loan may have made profit from the dip in price and withdraw it's profit, but I see that as a way of getting into trap. Please am not in anyway trying to sudgest or encourage trading, but just letting you know that we can not deny that loan is not profitable in bitcoin investment to some people, but it is more advisable to invest from our discretion than loan. and moreover a long term plan is more better because those little profit generated from trading is the reason many people are trapped into trading.
I don't really take taking a loan is good action to do by people especially if they are looking after to get possible profits in trading or even in their bitcoin investment. Since its like you are giving to much pressure to yourself and drowning for those possible interest asked by the lenders. Imagine if they didn't meet their expectation and suddenly they lose from whatever activities they done for sure next to that is they will be in miserable situation especially if they came to the point that they can't pay their borrowed amount anymore. So take always proper precaution on doing risky decisions on your investment and just use the money which is already in your possession so that there will be no other issues will bother to people who want to invest with bitcoin and they could just focus on how to grow their investment and think other think on how they can maximize or improve their strategy used to make everything goes according to their plans..
For me taking a lone for investment in asset like Bitcoin is inviting trouble to oneself that will end up turning the investor into a trader thereby exposing the investment to undue pressures and potential loss. Investment in BItcoin is vest if allowed a period of 4 to 10 years; I doubt there is any lender that will offer this kind of loan and even if they do, the interest will be outrageous.

What will most likely be the result of taking a loan to invest I Bitcoin is selling under pressure at a loss because the loan will require to be serviced serviced which is paying back the interest on the loan to be able to still owe the capital. This is not a good decision and should be avoided.

Bitcoin investment requires that the investor should have worked out his finances in such a way that he will be able to meet his needs while holding for as long as it is necessary probably within the minimum duration.